Legal Question in Credit and Debt Law in Texas
''Collections''
I have an old debt that has passed through several agencies
over the past 8 years, since 1997. I wasn't aware that I still owed it and I certainly did not acquire it from the company that is now trying to collect it. No one has contacted me since 1997 and it has increased from $2400 to $8600. The collection agency says they are collecting for a well known bank and the bank knew nothing about it. What should I do? I've already sent them a letter insisting that they stop calling me, but I'm afraid they will come back with a vengeance. I can't afford this, especially since I never spent that much money to begin with. Please tell me what to do.
2 Answers from Attorneys
Re: ''Collections''
I am also licensed in TX, so I will respond. You don't mention what kind of debt this is. I assume that it is a credit card or an unsecured loan. It sounds like the statute of limitation has run on the debt and you do not have to pay anything, unless they obtained a judgment against you (sued you in court).
Sending the "case and desist" letter was the right thing to do. I hope you also denied owing them any debt. If there was no judgment taken against you and it has been more than 4 years since the last payment was made on the account, you probably will not hear from them again. Some collection agencies try to get people to pay old debts voluntarily that they cannot be forced to pay legally.
Re: ''Collections''
Write to them, certified mail return receipt requested, stating that you dispute the debt, the statute of limitations has run and any further attempts at collection will be a violation of the FDCPA. That should turn them off promptly.
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